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! Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 200 units@ $12.50 = $2,500 130 units@ $11.50 - 1,495 160 units @ $21.50 140 units @ $21.50 300 units@ $11.00 = 630 units 3, 300 $7, 295 300 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 3 300 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning in Required: 1. Complete comparative Income statements for the month of January for Laker Company for the four inventory m expenses are $1,850 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 0 ales most of goods sold ross profit Expenses ncome before taxes Income tax expense Net income 0 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0